Flock provides landlords with an exit option that preserves wealth and cash flow by allowing property owners to exchange real estate for shares in its diversified funds. The company uses the 721 Exchange, a wealth-preservation mechanism that helps everyday landlords avoid triggering capital gains taxes when they exit properties. Flock manages over 860 homes across 17 states, representing nearly $200 million in total real estate value. Its platform now offers dedicated funds including Flock Homes (single-family rentals), Flock Multifamily (5–200 units), and Flock Manufactured Housing (5–500 units). Additional offerings such as Flock Storage, Small Bay Industrial, and Retail are listed as coming soon. The company is led by CEO and founder Ari Rubin and targets expansion into new real estate asset classes following early success in single-family rentals. Flock Homes purchases single-family rental homes from landlords and issues shares in a pooled portfolio, allowing former owners to retain exposure to rental income and appreciation without day-to-day management. The company owns and operates the assets and pays out distributions after holding back reserves for maintenance, taxes, and insurance. Flock charges a 1% management fee on account value and says its asset-light model relies on owners rolling equity into the fund rather than Flock sourcing purchase capital itself. It uses third-party valuation models plus internal adjustments for repairs to set purchase prices and aims to include standardized homes with upside potential. Today Flock has 110 homes across Denver, Austin, Texas and Kansas City, operates with 17 employees, and maintains dual headquarters in Denver and San Francisco. The company plans to launch in Seattle and several additional markets this year and positions the product as an estate-planning and passive-income alternative for small landlords.

Total raised

$46M

Funding rounds

2

Latest round

Series B

Latest activity

May 2025